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IMF Cuts India's GDP Growth Forecast To 8.2% for FY23

Category : Business and economics
Published on: April 21 2022 Share on facebook

  • The International Monetary Fund (IMF) slashed India's gross domestic product (GDP) forecast by 80 percentage points to 8.2 per cent for financial year 2022-23.
  • In its World Economic Outlook report for the month of April 2022, the IMF said expectation of weaker domestic demand owing to higher oil prices will weigh on consumption.
  • The Reserve Bank of India (RBI), for instance, has pegged the GDP growth for FY23 at 7.2 percent.
  • In January, the IMF had said India's economy would grow 7.1 percent in FY24.
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